Are you dreaming of owning your first home but struggling to navigate the complex world of down payments and closing costs? Look no further! The Monmouth County, NJ First-Time Homebuyers Assistance Program is here to turn your homeownership aspirations into reality. In this blog, we'll explore the ins and outs of this program, including eligibility criteria, program details, and the participating municipalities that could become your new home.
The Monmouth County, NJ First-Time Homebuyers Assistance Program is tailored to provide financial support to low-income families aiming to purchase an affordable home. The program offers a deferred payment second mortgage loan, granting up to $10,000 specifically for down payment and closing costs. Let's delve into the essential details and eligibility criteria:
To qualify for the program, applicants must have been residents of Monmouth County for at least one year before applying for the grant.
All applicants are required to complete a pre-purchase housing counseling course and provide a certificate of completion with their First-Time Homebuyer application. This step is crucial to empower potential homeowners with the knowledge and skills needed for a successful homeownership journey.
To be eligible, individuals must meet the first-time homebuyer criteria, meaning they have never owned a home before. (except if an applicant has previously owned a home, he/she still may qualify if they meet 1 or more of the following criteria:
While the program is designed to make homeownership accessible, there are specific guidelines and conditions applicants must be aware of:
Participating Municipalities:
*Participating Municipalities: Aberdeen, Fair Haven, Marlboro, Shrewsbury Borough, Allenhurst, Farmingdale, Matawan, Shrewsbury Twp, Allentown, Freehold Borough, Middletown, South Belmar, Atlantic Highlands, Freehold Twp, Millstone, Spring Lake, Asbury Park, Hazlet, Monmouth Beach, Spring Lake Heights, Avon, Highlands, Neptune Twp, Tinton Falls, Belmar, Holmdel, Neptune City, Union Beach, Bradley Beach, Howell, Ocean, Upper Freehold, Brielle, Keansburg, Oceanport, Wall, Colts Neck, Keyport, Red Bank, West Long Branch, Deal, Loch Arbour, Roosevelt, Eatontown, Long Branch, Rumson, Englishtown, Manalapan, Sea Bright.
The Monmouth County, NJ First-Time Homebuyers Assistance Program is designed to support you in achieving your dream of homeownership. Take the first step towards a brighter future by exploring the possibilities this program opens up for you in these vibrant communities.
Don't let financial barriers hold you back. Click here to start your free pre-approval today or contact us for more information and to see if you’re eligible.